“Spec”, “as new”, “retrofitted”, “existing”, “partial”, “ready-to-occupy”, “move-in ready”, …. fitout. Anyone involved in the CRE office market at the moment is bombarding or bombarded with spec fitouts (brand new) or existing fitouts (not brand new). All are “fitted” suites. There are many really good quality...
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The Property Council of Australia released the office vacancy figures last week. According to their figures, total National Office vacancy increased to 14.8%, CBD vacancy increased to 13.5% and non-CBD vacancy increased to 17.9%. Overall, the markets remain soft and it looks like this will...
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Flight to quality has been the most commonly used term in the commercial real estate industry for quite some time. Flight to quality is about tenants upgrading office premises; moving to better quality buildings, from A to Premium, B to A and so on. To...
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Happy new year and hope you had a wonderful break from work. 2024 will be a fascinating year in the Australian office markets and CREview believes technology will be the #1 disrupter. From 2020 to late 2022, the main technological breakthrough was not technology itself but...
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In the usual flurry of activity trying to get things done by the end of the year, it is always good to pause for a moment, and check where the market is at. Office occupancy rates have been increasing as more people have returned to the...
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Way before covid, the move away from 1 desk per person was taking place. Like with many things, technology played a big part in this as the landline on the desk and the CPU under it changed. We no longer had to be tethered to...
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What is the difference between office space occupancy and office space utilisation? In essence one is used by the supply side of the office equation (Lessors), and the other is used by the demand side of the equation (Lessees). We look at “occupancy”. Here is an...
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Data centres in various shapes and sizes have been around for decades. They used to be stand-alone buildings built for specific end users, in particular the banks. Then in the 90’s and 00’s the next gen arrived - IBM, Optus and ASX to name a...
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As the office markets turn and vacancy climbs, the better buildings slowly lease up and the lesser quality buildings struggle. Like clockwork the narrative turns to repurposing the buildings that are struggling to other uses. But is this real and is this the answer? Repurposing works when...
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At the first CoreNet CREtech panel discussion in 2017 we presented the Gartner Hype Cycle relative to CRE and technology. At that point, 6 years ago, the industry buzz word was “disruption”. The Gartner Hype Cycle is a graphic representation of the maturity lifecycle of new...
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